Pinewood Estate: what changed
What changed
Pinewood Estate
filed annual accounts (NBB)
Net result for the year
-€219,610
2024 · -€81,791-€137,819
Equity
-€164,182
2024 · €55,428-€219,610
Cash
€2,842
2024 · €1,568+€1,274
Balance sheet total
€1.9m
2024 · €3.0m-€1.0m
Largest movements
Assets
- Stocks and contracts -€1.0m
down €1.0m (-35.4%), from €2.9m to €1.9m
Equity and liabilities
- Short-term financial debts -€812,463
down €812,463 (-36.3%), from €2.2m to €1.4m
- Profit (loss) carried forward -€219,610
down €219,610, from €25,428 to -€194,182
- Other debts +€92,364
up €92,364 (+33.3%), from €277,165 to €369,529
- Trade debts -€90,169
down €90,169 (-41.0%), from €219,845 to €129,676
Income statement
- Financial charges +€135,837
up €135,837 (+392%), from €34,696 to €170,533
- Taxes +€37,409
up €37,409, from €0 to €37,409
- Other operating charges -€29,308
down €29,308 (-68.3%), from €42,896 to €13,588
- Gross operating margin +€5,941
up €5,941 (+74.3%), from -€7,999 to -€2,059
- Financial income +€178
up €178 (+4.7%), from €3,801 to €3,979
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€81,791
Gross operating margin
+€5,941
Other operating charges
+€29,308
Financial income
+€178
Financial charges
-€135,837
Taxes
-€37,409
Result 2025
-€219,610
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€813,737
Investment
€0
Financing
-€812,463
Cash 2024
€1,568
From operations (derived)
+€813,737
Net result for the year
-€219,610
Stocks and contracts
+€1.0m
Receivables within one year
-€3,781
Smaller working-capital items
-€858
Trade debts
-€90,169
Other debts
+€92,364
Accrued charges and deferred income
+€17,592
Financing
-€812,463
Short-term financial debts
-€812,463
Cash 2025
€2,842
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,961,176 | €1,948,808 | -€1.0m | -34.2% |
| Current assets | 29/58 | €2,961,176 | €1,948,808 | -€1.0m | -34.2% |
| Stocks and contracts in progress | 3 | €2,874,587 | €1,856,389 | -€1.0m | -35.4% |
| Stocks | 30/36 | €2,874,587 | €1,856,389 | -€1.0m | -35.4% |
| Amounts receivable within one year | 40/41 | €78,746 | €82,527 | +€3,781 | +4.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €78,746 | €82,527 | +€3,781 | +4.8% |
| Cash at bank and in hand | 54/58 | €1,568 | €2,842 | +€1,274 | +81.2% |
| Deferred charges and accrued income | 490/1 | €6,275 | €7,051 | +€776 | +12.4% |
| Total equity and liabilities | 10/49 | €2,961,176 | €1,948,808 | -€1.0m | -34.2% |
| Equity | 10/15 | €55,428 | -€164,182 | -€219,610 | |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,428 | -€194,182 | -€219,610 | |
| Amounts payable | 17/49 | €2,905,748 | €2,112,990 | -€792,758 | -27.3% |
| Amounts payable after more than one year | 17 | €149,965 | €149,965 | = | 0.0% |
| Financial debts | 170/4 | €148,500 | €148,500 | = | 0.0% |
| Other amounts payable | 178/9 | €1,465 | €1,465 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,742,628 | €1,932,278 | -€810,350 | -29.5% |
| Financial debts | 43 | €2,240,463 | €1,428,000 | -€812,463 | -36.3% |
| Credit institutions | 430/8 | €2,240,463 | €1,428,000 | -€812,463 | -36.3% |
| Trade debts | 44 | €219,845 | €129,676 | -€90,169 | -41.0% |
| Suppliers | 440/4 | €219,845 | €129,676 | -€90,169 | -41.0% |
| Taxes, remuneration and social security | 45 | €5,156 | €5,074 | -€82 | -1.6% |
| Taxes | 450/3 | €5,156 | €5,074 | -€82 | -1.6% |
| Other amounts payable | 47/48 | €277,165 | €369,529 | +€92,364 | +33.3% |
| Accrued charges and deferred income | 492/3 | €13,155 | €30,747 | +€17,592 | +134% |
| Other operating charges | 640/8 | €42,896 | €13,588 | -€29,308 | -68.3% |
| Gross operating margin | 9900 | -€7,999 | -€2,059 | +€5,941 | +74.3% |
| Operating profit (loss) | 9901 | -€50,895 | -€15,647 | +€35,249 | +69.3% |
| Financial income | 75/76B | €3,801 | €3,979 | +€178 | +4.7% |
| Recurring financial income | 75 | €3,801 | €3,979 | +€178 | +4.7% |
| Financial charges | 65/66B | €34,696 | €170,533 | +€135,837 | +392% |
| Recurring financial charges | 65 | €34,696 | €170,533 | +€135,837 | +392% |
| Profit (loss) for the period before taxes | 9903 | -€81,791 | -€182,201 | -€100,410 | -123% |
| Income taxes | 67/77 | €0 | €37,409 | +€37,409 | |
| Profit (loss) for the period | 9904 | -€81,791 | -€219,610 | -€137,819 | -169% |
| Profit (loss) for the period to be appropriated | 9905 | -€81,791 | -€219,610 | -€137,819 | -169% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.